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Registered number: 09021454
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UNAUDITED FINANCIAL STATEMENTS
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FOR THE YEAR ENDED
31 MARCH 2026
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JT FINANCIAL MANAGEMENT LIMITED
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JT FINANCIAL MANAGEMENT LIMITED
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COMPANY INFORMATION
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JT FINANCIAL MANAGEMENT LIMITED
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CONTENTS
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Statement of Financial Position
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Notes to the Financial Statements
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JT FINANCIAL MANAGEMENT LIMITED
REGISTERED NUMBER:09021454
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STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2026
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Provisions for liabilities
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Capital redemption reserve
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JT FINANCIAL MANAGEMENT LIMITED
REGISTERED NUMBER:09021454
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STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2026
The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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J E Tottle
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The notes on pages 3 to 11 form part of these financial statements.
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JT FINANCIAL MANAGEMENT LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
JT Financial Management Limited is a private company limited by shares incorporated in the United Kingdom and registered in England and Wales. The registered office address and principal place of business are disclosed on the company information page.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following material accounting policies have been applied:
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Changes in accounting policies and disclosures
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The Company has chosen to early adopt the FRS 102 Periodic Review 2024 amendments during the year. The date of initial application is 1 April 2025. The application of the amendments has resulted in changes to accounting policies for revenue and leases.
The Periodic Review 2024 amendments introduced significant changes to Section 23 Revenue from Contracts with Customers and Section 20 Leases. The revised Section 23 introduced new accounting requirements for revenue recognition based on the five-step model for revenue recognition from IFRS 15 Revenue from Contracts with Customers. The revised Section 20 Leases introduced new lease accounting requirements based on the on-balance sheet model from IFRS 16 Leases with appropriate simplifications.
(a) Section 23 - Revenue from Contracts with Customers
The revised revenue recognition requirements have been applied in accordance with the applicable transitional provisions. The adoption of these requirements did not have a material effect on the amount or timing of revenue recognised by the company.
(b) Section 20 - Leases
The company had no leases requiring recognition under revised Section 20 Leases at 1 April 2025 but entered into a lease commencing on 23 February 2026 which has been accounted for under the revised requirements from its commencement date.
The comparative information was not restated and continues to be reported under the then-extant FRS 102 Section 20. As a result, the accounting policies for the comparative period are in line with the version of FRS 102 that applied for the accounting period ended 31 March 2025.
Impact on profit or loss
The impact in the current year for the effect of applying the revised Section 20 is a reduction in profit for the year of £6,097. This difference arises from the timing of depreciation and interest charges under the revised requirements compared with the operating lease expense that would previously have been recognised.
Practical expedients used
The Company elected to apply the practical expedient to not reassess whether a contract is or contains a lease at the date of initial application. Contracts entered into before the transition date that were not identified as leases under the old Section 20 were not reassessed. The definition of a lease under the revised Section 20 has been applied only to contracts entered into or changed on or after 1 April 2025.
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JT FINANCIAL MANAGEMENT LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
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Changes in accounting policies and disclosures
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The revised standard provides for certain optional practical expedients on lease-by-lease basis, including those related to the initial adoption of the FRS 102 amendments. The Company applied the following practical expedients when applying the FRS 102 amendments to leases previously classified as operating leases under the old Section 20:
∙Chose not to recognise right-of-use assets and liabilities for leases with less than 12 months of lease term remaining as of the date of initial application
The financial statements have been prepared on a going concern basis.
In preparing the financial statements, management has considered the company's financial position, its expected future trading performance, cash flow forecasts and its available financial resources for a period of at least twelve months from the date on which the financial statements are authorised for issue and concluded that it has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
The Company recognises revenue from the following major sources:
Provision of Services
The Company are in the business of providing ongoing investment consulting services. Revenue from contracts for the provision of services is recognised over time as the services are performed. Contracts for the provision of services generally contain a single performance obligation, being delivery of contracted services.
Revenue is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total expected costs. Where the outcome cannot be measured reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable. The Company has concluded that they are the principal in these arrangements.
The transaction price is determined based on the consideration to which the Company expects to be entitled and includes variable consideration only to the extent that it is highly probable that a significant reversal of cumulative revenue recognised will not occur.
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their useful economic lives, which have been estimated as 5 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
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JT FINANCIAL MANAGEMENT LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
Research and development expenditure credit
The Company accounts for amounts receivable under the Research and Development Expenditure Credit scheme as government grants in accordance with Section 24 of FRS 102 and applies the performance model.
The credit is recognised when there is reasonable assurance that the Company will comply with the conditions attaching to it and that the credit will be received. Where the credit does not impose specified future performance-related conditions, it is recognised in income when the amount becomes receivable. Where specified future performance-related conditions apply, the credit is recognised in income when those conditions are satisfied.
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
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JT FINANCIAL MANAGEMENT LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life.
Amortisation is provided on the following bases:
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.
Depreciation is provided on the following basis:
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Over the term of the lease
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Over the term of the lease
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The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
The Company as a lessee
The Company assesses whether a contract is or contains a lease, at inception of a contract. The Company recognises a right-of-use asset and a corresponding lease liability with respect to all lease agreements in which it is the lessee, except for short-term leases (defined as leases with a lease term of 12 months or less) and leases of low value assets. For these leases, the Company recognises the lease payments as an expense in profit or loss on a straight-line basis over the term of the lease unless another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.
The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by using the rate implicit in the lease. If this rate cannot be readily determined, the Company uses its incremental borrowing rate which is determined from observable borrowing information to establish an interest rate that would be offered to the company for a loan of a similar amount and term and secured on the asset being financed.
The lease liability is included in 'Creditors' on the Statement of Financial Position.
The lease liability is subsequently measured by increasing the carrying amount to reflect interest on the lease liability (using the effective interest method) and by reducing the carrying amount to reflect the lease payments
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JT FINANCIAL MANAGEMENT LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
made.
The right-of-use assets comprise the initial measurement of the corresponding lease liability, lease payments made at or before the commencement day and any initial direct costs. They are subsequently measured at cost less accumulated depreciation and impairment losses.
After initial recognition, the right-of-use asset is depreciated on a straight-line basis over the shorter of the asset’s useful life or the lease term.
The right-of-use assets are included in 'Tangible Fixed Assets' in the Statement of Financial Position.
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The Company’s performance obligations arise from the provision of services to customers. Performance obligations relating to services are satisfied over time as the services are rendered.
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Payment terms typically require settlement on presentation of the invoice. Consideration is fixed and/or variable as agreed in the contract, and contracts with customers do not include a significant financing component.
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The nature of services transferred is investment consulting services. The company acts as principal in these arrangements, as it controls the services before they are transferred to the customer. The entity does not act as an agent in any material arrangements.
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For performance obligations satisfied over time, where the contract for services is for variable consideration on a time spent basis, revenue is recognised based on hours spent with accrued income recognised for any unbilled work at the year end. Where the contract for services is for fixed consideration for a specific project, revenue is recognised using the input method, which measures progress towards complete satisfaction of the performance obligation based on progress in relation to project milestones.
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The average monthly number of employees, including Directors, during the year was 9 (2025 - 9).
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JT FINANCIAL MANAGEMENT LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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Charge for the year on owned assets
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JT FINANCIAL MANAGEMENT LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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Charge for the year on owned assets
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Charge for the year on right-of-use assets
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Right-of-use assets are exclusively disclosed in their own column within the Tangible fixed assets note.
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Prepayments and accrued income
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JT FINANCIAL MANAGEMENT LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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Charged to profit or loss
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The provision for deferred taxation is made up as follows:
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Accelerated capital allowances
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R&D expenditure timing differences
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Short-term timing differences
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JT FINANCIAL MANAGEMENT LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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Allotted, called up and fully paid
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20,000 (2025 -20,000) Ordinary shares of £1.00 each
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Commitments under operating leases
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At 31 March 2026 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
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Related party transactions
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During the year, the company received a loan from its parent company, JTFM Holdings Limited. The balance outstanding on the loan at the year end was £7,375 (2025 £Nil) . The loan is unsecured, interest free and repayable on demand.
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